Stocks fall in volatile session, oil sits at $123 and gold at $2,040
Gold surged to $2,040, highest since August 2020
Adviser Investments CIO Jim Lowell joined 'Mornings with Maria' to discuss the markets and risk of recession this year amid international uncertainties.
U.S. stocks, in a volatile session, ended lower as investors debated whether President Biden's U.S. ban on Russian oil imports will lower oil prices over the long-term.
RUSSIA INVADES UKRAINE: LIVE UPDATES
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 50115.67 | +1,206.95 | +2.47% |
| SP500 | S&P 500 | 6932.3 | +133.90 | +1.97% |
| I:COMP | NASDAQ COMPOSITE INDEX | 23031.213218 | +490.63 | +2.18% |
The Nasdaq Composite, which entered a bear market Monday, fell 0.3%, while the S&P 500 slipped 0.7%, and the Dow Jones Industrial Average over 185 points or 0.6%.
Equities swung between losses and gains after Biden's announcement. Sen. Rob Portman, R-Ohio, tells FOX Business the markets briefly weighed whether the announcement signals the U.S. will focus on their own natural resources, even with the ongoing crackdown on pipelines and drilling.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| XLE | ENERGY SELECT SECTOR SPDR ETF | 53.25 | +1.04 | +1.99% |
Oil remained higher but eased to $123.70 per barrel.
ENERGY INDUSTRY SWIPES BACK AT PSAKI 'RED HERRING' COMMENT ON OIL AND GAS LEASES
A gallon of regular gas now costs an average of $4.17 across the country after breaching the $4 barrier on Sunday for the first time since 2008, per AAA.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| USO | UNITED STATES OIL FUND - USD ACC | 76.98 | +0.28 | +0.37% |
| BNO | UNITED STATES BRENT OIL FUND - USD ACC | 32.03 | +0.20 | +0.63% |
| UGA | UNITED STATES GASOLINE FUND - USD ACC | 69.43 | +0.94 | +1.37% |
In related news, Shell Oil confirmed it will withdraw from involvement in all Russian hydrocarbons due to the country's invasion of Ukraine.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| SHEL | SHELL PLC | 75.29 | +0.66 | +0.88% |
WORLD BANK ASSEMBLING $725M EMERGENCY PACKAGE TO UKRAINE
Gold also rose above the $2,040 mark in a flight-to-safety move, now at the highest level since August 2020.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| GLD | SPDR GOLD SHARES TRUST - USD ACC | 455.37 | +13.34 | +3.02% |
In other stock news, Dick's Sporting Goods reported better than expected profits, earning $3.16 per share, while sale store sales jumped 5.9%, also exceeding estimates.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| DKS | DICK'S SPORTING GOODS | 208.29 | +2.76 | +1.34% |
Apple ended lower after rolling out more 5G connectivity to its cheaper iPhone SE while the iPad Air got upgraded with faster chips.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| AAPL | APPLE INC. | 278.12 | +2.21 | +0.80% |
In deal news, Google LLC is buying Mandiant, a "leader in dynamic cyber defense and response," in a deal valued at $5.4 billion or $23 per share. "The acquisition of Mandiant will complement Google Cloud’s existing strengths in security," Google noted in the announcement.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| GOOGL | ALPHABET INC. | 322.86 | -8.39 | -2.53% |
| MNDT | NO DATA AVAILABLE | - | - | - |
U.S. companies continued to distance themselves from Russia on Tuesday, as McDonald's, Pepsi, Starbucks and Amazon joined the movement, along with dating app Bumble.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| MCD | MCDONALD'S CORP. | 327.16 | +3.68 | +1.14% |
| PEP | PEPSICO INC. | 170.49 | +2.96 | +1.77% |
| SBUX | STARBUCKS CORP. | 99.45 | +3.38 | +3.52% |
| AMZN | AMAZON.COM INC. | 210.32 | -12.37 | -5.55% |
| BMBL | BUMBLE INC. | 3.22 | +0.13 | +4.21% |
In cryptocurrencies, Bitcoin hovered around $38,000.
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The Associated Press contributed to this report.